Gecina has announced the successful pricing of a new 500 million euro green bond issue with a 5-year maturity (due June 2031). The transaction was launched to pre-fund the refinancing of the group's 2027 bond maturity.
Placed with a broad base of tier-one investors, the issue was 3.5 times oversubscribed and carries a competitive spread of 68 basis points, with an annual coupon of 3.250%.
This operation strengthens the real estate group's balance sheet and rounds out its debt maturity profile by adding a 2031 maturity, which was previously vacant. Its refinancing requirements are now evenly distributed over time and secured under favorable market conditions.
Gecina further noted that it continues to benefit from credit ratings that have remained among the highest in the sector for eight consecutive years, at A- (stable outlook) from Standard & Poor's and A3 (stable outlook) from Moody's (confirmed in May 2026).
Gecina is a leading French real estate company. Gross rental income breaks down by type of asset as follows:
- offices and commercial spaces (84.6%);
- residential buildings (15.4%).
At the end of 2025, the group's real estate holdings amounted, in market value, to EUR 17.6 billion distributed between offices and commercial spaces (83.7%), residential buildings (16.1%) and other (0.2%).
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